Ivax, Alpharma Settle Claims to Glucophage XR Generic

Law360, New York (November 26, 2003, 12:00 AM EST) -- Generic drugmakers Ivax Corp. and rival Alpharma have settled a lawsuit and agreed to share profits for a drug used to treat Type 2 diabetes.

The suit concerned the exclusive right to sell a generic equivalent of Glucophage XR(R) tablets, marketed by Bristol-Myers Squibb Co. and indicated as adjunctive therapy in type 2 diabetes. Glucophage XR(R) tablets have brand sales of approximately $450 million annually.

Under the agreement, Alpharma has withdrawn its lawsuit in U.S. District Court for the District of Columbia against the Food and...
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